News: Fairfax Media & Macquarie Radio confirm talks

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Fairfax Media Limited (ASX:FXJ) and Macquarie Radio Network Limited (ASX:MRN) have confirmed they remain in ongoing talks. 

 

Both companies lodged the statements yesterday evening while noting the surrounding market speculation about a deal involving Fairfax Radio.

 

Fairfax papers say the two groups are closing in on a $200 million talkback radio merger less than one year after talks collapsed.

 

The reports suggest an imminent deal could be only days away from being tied-up and announced before Christmas. 

 

Fairfax Media reported a net profit of $225 million in the 2014 financial year.